Kvaerner Masa-Yards Releases First Quarter Results

Thursday, May 16, 2002
The Kvaerner Group has published its first quarter 2002 results. Kvaerner Masa-Yards' business operations contributed to the Group results with an operating profit of $16 million. Kvaerner Masa-Yards' operating revenues for the period were $2,431 million. At the end of March, the unrecognized sales value of the orderbook was 1.3 billion. The operating profit of Kvaerner Masa-Yards Inc. according to Finnish Accounting Standards (FAS) was slightly higher than the figure reported by the Kvaerner Group for Kvaerner Masa-Yards. "The results of Kvaerner Masa-Yards for the beginning of this year shows that our productivity improvement program proceeds successfully. The difficult market situation requires close cooperation between the companys' management, our personnel, sub-contractors and suppliers in order to further improve our productivity and competitiveness for gaining new orders", said Jorma Eloranta, President and CEO of Kvaerner Masa-Yards Inc.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Update on Seagull Mobile apps for Crew

The Seagull mobile app for crew training status is set to revolutionise the way seafarers track their training records and receive critical safety alerts, by making

Finance

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Paragon Offshore to File for Bankruptcy

Paragon Offshore Plc said it will file for Chapter 11 bankruptcy on or before Feb. 14, becoming the first U.S. energy-related company to seek court protection from

Philippines Mulls Bilateral Sea Talks with China

The Philippines may consider two-way talks with China to resolve a territorial dispute in the South China Sea but only if it wins its case with Beijing at an arbitration tribunal in The Hague,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0887 sec (11 req/sec)